Finance

The challenger bank exceeded analysts' expectations in income, revenue and earnings per share.

Sellers have roughly a month to bring transactions involving properties from the "claims without conveyance of title" and REO programs in line with the changes.

A National Mortgage News/Snapdocs survey of 100 lenders found 90% use some form of what could be considered a digital closing, up from 74% two-years ago.

The state has largely solved for the industry's biggest concerns but the broader secondary mortgage market could still have some additional responsibilities.

The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.

The lender's parent also said it is actively in preparation to move forward on plans to unlock equity value in 2025, with a Newrez spinoff among its options.

Homebuilding industry CEOs said tariff impacts would likely be felt in the back half of the year, but affordability concerns are applying pressure now.

The industry's largest servicer, which agreed at the end of the quarter to be acquired by Rocket, had a $82 million write-down due to shifting interest rates.

Chairman and CEO David Spector, in weighing Rocket Cos.' purchase of Mr. Cooper, suggested Pennymac's balanced business model couldn't be duplicated.

Moody's Corp., a company that grades bonds and analyzes corporations' financial performance, said it expects to earn less this year than it had previously forecast.

Equifax Inc.'s first-quarter profit beat estimates, although the credit-reporting agency declined to raise its guidance, citing the tariff-induced uncertainty in the economy and falling consumer confidence.

The partnership between alternative investment managers adds to signs investors see the private mortgage market as attractive, albeit not immune to risk.

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Even after posting production losses in two of four quarters last year, independent mortgage bankers made $443 on every loan originated during 2024.

Fifth Third Bancorp revised its guidance, but still expects record net interest income for 2025, even as commercial clients signal that economic volatility will drive up inflation.

The super-regional bank cited "a material slowdown" in investment banking and trading income as one reason for the lower revenue forecast. Interest rates are also a factor, executives said.

Chief Operating Officer Joseph Gormley's appointment fills out a thin executive team at the government corporation, which plays a key role in funding mortgages.

As tariff turbulence continues, BofA is predicting a slowdown, not a downturn. But America's second-largest bank is also signaling that it's prepared for a more severe scenario.

The deal has an extensive capital structure, which is expected to repay investors sequentially, with notes enhanced by subordination.

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.